The London G20 Summit, held in April 2009, heralded an unprecedented wave of Tax Information Exchange Agreements (TIEAs).
Following the summit, and the subsequent global push for greater tax transparency and compliance, 53 agreements have been signed, almost doubling the number of completed TIEAs since their inception in late 2000.
Jersey has to date signed 15 agreements to exchange tax information with countries around the world. These countries include the USA, the UK, and many European countries.
Colin Powell OBE, Adviser, International Affairs, States of Jersey updated Members on the progress being made on the TIEAs/DTAs and the Global Forum Peer Review programme and explained how these agreements strengthen Jersey's economic and trading relationships with the countries concerned, providing a clear indication that Jersey is committed to complying with international standards of financial regulation.
Peter Harris, Barrister, Overseas Chambers discussed the ratification of the French TIEA and the tax advantages this may mean for Jersey.